"In order to consistently strengthen the relations between the two countries, it is planned that Lithuania and South Korea will seek more opportunities for closer cooperation. I am pleased that the meeting confirmed the arrival of a South Korean biotechnology business delegation to Lithuania, which will be a significant step towards establishing closer ties in the fields of life sciences and biotechnology," said the Minister of the Economy and Innovation.
The two ministers also agreed on the possible signing of an additional cooperation agreement between the Innovation Agency and the South Korean Institute of Advanced Technology (KIAT), which will help to broaden the innovation and technology field and open up new opportunities for cooperation in the fields of lasers, life sciences, biotechnology and startups.
During her visit, the Minister also met with Park Yun Kyu, South Korea's Vice-Minister for Science and ICT. Both Lithuania and South Korea have a strongly developed GovTech sector, and the two countries discussed possible exchange of knowledge and best practices, as well as cooperation in the semiconductor, photonics and biotechnology sectors.
Lithuania has consistently sought to build closer economic relations with South Korea - last year the trade turnover between the two countries reached EUR 211 million. Compared to 2021, the turnover increased by 21.6%.
